As the summer season reaches its peak and we eagerly anticipate the winter months, it's time to take a closer look at the lodging and air updates in Telluride. The real estate market in this picturesque destination is thriving, and the numbers speak for themselves. Join us as we explore the recent trends and discover how Mountain Rose Realty, led by the experienced Anne-Britt, can help you make the most of these opportunities.
Total destination occupancy (paid & owner) is pacing 1% ahead of 2022 from August 4 – 18 at 51%, and average daily rate (ADR) has decreased by 7% at $565. Peak visitation occurs over Jazz Festival weekend at 63% total occupancy. Over the two-week period, Mountain Village total occupancy is pacing 13% ahead YOY at 53%, and Telluride properties are pacing 17% behind 2022 at 48% occupancy.
The summer season continues to pace 1% ahead of 2022, with the largest occupancy growth in August and September, pacing 6% ahead YOY. Summer destination ADR has decreased by 4% YOY at $563.
Looking ahead to winter, destination total occupancy is pacing 10% ahead YOY. Mountain Village properties are seeing a 23% increase in total occupancy pace and paid occupancy has grown by 21% YOY. Total occupancy pace in Telluride has decreased by 9% YOY, and paid occupancy is pacing 29% lower than last year.
The last several weeks showed a strong jump in overall and close-in bookings as our core markets look to escape the heat. Bookings this week returned to average, with the summer now up about 10%, showing July and August up 10-15%, and September and October running flat to last year. Winter baseline flights are live now, and Denver Air will fly again through the shoulder season.
The Telluride real estate market is abuzz with potential. With Mountain Rose Realty and Anne-Britt's expertise at your disposal, you can confidently navigate the lodging opportunities, capitalize on summer growth, and prepare for the winter season. As we see the demand for properties in Telluride rise, it's the perfect time to explore the market and make your real estate investment dreams come true.